XPost: nf.general 
 From: gbaker@nfld.net 
  
 Don't blame the retailers, blame the banks. They are the ones gouging 
 everyone. They make billions each year. I'm sure it wouldn't hurt them that 
 much if they were to knock off a few cents in transaction fees. 
  
  
 "Matt Dawe"  wrote in message 
 news:3nCue.51652$Ph4.1423668@ursa-nb00s0.nbnet.nb.ca... 
 > From what I understand, retailers are charged per transaction. I believe 
 > the 
 > charge varies from bank to bank. I have heard Royal Bank is 35 cents...how 
 > accurate that is, I don't know. I guess the retailers are simply covering 
 > their bottom line since a $5 sale to them is only $4.65 in revenue after 
 > they are charged the fee.....the markup on the $5 item was likely minimal 
 > to 
 > begin with so you can't really blame them. 
 > 
 > Credit cards work similarly except they charge a percentage of the total 
 > sale. If they charge 4% for a Visa, on a $100 purchase, the retailer loses 
 > $4...something along those lines. 
 > 
 > "Terry"  wrote in message 
 > news:OWBue.74695$Kk4.944213@news20.bellglobal.com... 
 >> Buying yesterday at the local store outlet of a national chain store I 
 >> was 
 >> advised that there would be a 25 cent charge if I used my debit or credit 
 >> card for a purchase of less than $5! 
 >> 
 >> This was the first time I have experienced this. 
 >> Is it common practice throughout Canada? 
 >> It was also mentioned that another store charges 50 cents for the same. 
 >> 
 >> Twenty five cents on $5 is a 5% premium. 
 >> If the purchase was less, say $3.00 for a carton of milk, or similar, the 
 >> twenty five cent charge is 8.3%! 
 >> Fifty cents on $5 or less could be a 10% or higher premium. 
 >> 
 >> Am wondering if this is a reflection of or is caused by how much the 
 >> banks 
 >> charge businesses for bank debit card transactions. My bank tells me that 
 >> such extra charges by retailers are the exception and very unusual. 
 >> 
 >> I guess I won't be shopping at that store again. Also after being 
 > accustomed 
 >> to never having to carry money (except maybe  afew coins in the vehicle 
 > for 
 >> the odd parking meter) hope that will be able to continue use of 
 > 'plastic'. 
 >> 
 >> Debit cards are best because, requiring use of PIN they are more secure 
 > than 
 >> a credit card. Also the transaction amount comes out of one's account 
 > almost 
 >> immediately, and does not incur interest charges. It's easy to get at any 
 >> time an on-line or toll free telephone update of the state of ones bank 
 >> account. 
 >> 
 >> Comments? Personally I'd like to see banks make it mandatory that sellers 
 >> who accept their debit cards NOT charge any additional fees. 
 >> 
 >> 
 > 
 > 
  
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